past 18 months over the course of the biden presidency so far. that came from the heritage foundation from analysts there that compares it to what is basically taking the titanic into an iceberg. art laffer, the economist that helped turn around this ship under reagan said this in reaction to this report. this inflation number is accelerating. it s not toning down or topping out. brit hume joins us in moments on the political blowback for president biden and what that looks like as we head to the mid-term. first, let s bring in jackie deangelis and mark tepper. thanks for being here. $6,800, jackie, is the bite that s been taken out of people s income if you have mom and dad both working in the home. how does this shape up? first, it was 3,500 and then $5,000 and now it s $6,800. it keeps going on. my biggest problem today even though they re trying to explain it away saying it s backward looking, that doesn t mean it didn t have an impact on people. they re paying more
thiessen live coming up. john: fox news alert, president biden landing in the middle east as inflation hits a new 40-year high with no end in sight. i m john roberts in washington. sandra, double duty today. sandra: great to be with you, john. brand-new numbers from the government showing red hot inflation has not cooled. consumer price index surging to 9.1% in june. marking the biggest one-year increase since 1981. the president issuing a statement in response to all of it saying today s data does not reflect the full impact of nearly 30 days of decreases in gas prices and other commodities like wheat have fallen sharply since that report. john: americans are not feeling any relief, as the labor department shows, paying more for gas and cleaning products compared to last year. we begin with fox team coverage. lydia hu live in new york city with more on the inflation impact on food prices and jacqui heinrich from jerusalem where she is travelling with the president. j
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